South Carolina Retirement System, Columbia, hired its first equity manager. State Street Global Advisors was hired by the State Budget and Control Board to run a large-cap domestic equity portfolio of $917 million, about 5% of the retirement systems $19.4 billion in assets. The money will be invested in an index fund that tracks the Standard & Poors 500 index. State Street will be paid about $55,000 a year, although that could fluctuate based on earnings, said board spokesman Michael Sponhour.
South Carolina Retirement System, Columbia, hired its first equity...
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